Finances


Financial Statements of Revenues and Expenses

Statements of Revenue and Expenses (unaudited)

For the year that ended December 31, 2014

Revenues:

Non-Board Contributions* Board Contributions $ Millions Total
Contributions 96.6 78.5 175.1
Net Gains on Board-Donated Investments 8.4 8.4
Interest & Other Income 0.2 0.2
Total Revenues 96.6 87.1 183.7

Expenses:

Grants Paid With Non-Board Contributions* Costs Covered By Board Members** Total
Program:
Grants & Initiative 76.7 56.1 132.8
Evaluation & Consulting Services for Grantees 0.1 0.1
Program Salaries & Overhead 7.7 7.7
Subtotal - Program 76.7 63.9 140.6
Fundraising & Public Information
Communication & Events Production 9.1 9.1
Development Salaries & Overhead 9.6 9.6
SUBTOTAL: FUNDRAISING & PUBLIC INFO 0.0 18.7 18.7
Administration Salaries & Overhead 4.0 4.0
Total Expenses 76.7 86.6 163.3
Change in Net Assets 19.9 0.5 20.4
Total Net Assets, Beginning of Year 369.6
Total Net Assets, End of Year 390.0
Total Net Assets 390.0
Less: Board Designated for 2014 (292.5)
Less: Board & Donor Restricted by Time & Purpose (44.3)
Less: Illiquid, Restricted Assets (4.1)
Residual Spendible Net Assets at 12/31/14*** 49.1

* 100% of unrestricted Non- Board contributions pay for grants and initiatives within one year. 2013 unrestricted contributions were used to pay for core grants in 2014.
** 100% of all overhead costs are covered by Board donations unless specifically funded by restricted donations.
*** Spendable net assets are net assets that remain after subtracting all liabilities, commitments and illiquid assets. This is Robin Hood’s reserve fund. Because all non-board donations are designated solely and directly for program grants, this reserve fund is comprised exclusively of board-donated dollars.